The present invention relates to banknote validators which are additionally designed to selectively store received banknotes in a manner to allow later dispensing thereof.
Banknote validators are widely used in vending machine applications as well as other machines designed for financial transactions. These validators receive a banknote and conduct an evaluation to determine the denomination and authenticity of the banknote. If the banknote is accepted, it is normally stored in a removable cassette and the user is provided with an appropriate credit with respect to the vending machine.
It has also been known to combine a banknote validator with a banknote dispensing unit. The banknote dispensing unit allows dispensing of banknotes which have been previously stored in the device. Banknotes received by the validator are separately stored in the removable banknote cassette and are not fed to the banknote dispensing unit. Basically, these type of machines are serviced on a frequent basis and the banknote dispensing units are charged with a new supply of banknotes.
An automatic teller machine is disclosed in U.S. Pat. No. 5,135,212 where received banknotes are temporarily stored for later dispensing. Banknotes of a predetermined denomination are temporarily stored in an accumulator and subsequently dispensed as required.
One of the problems associated with combination banknote validators and dispensers is the small amount of space available in vending or gaming machines for receiving the unit. In addition, banknote validators with an accumulator have not been reliable and are subject to higher maintenance. Stand alone combined banknote acceptors and dispensers have not been cost-effective to businesses requiring a high dollar revenue per square foot of retail space.
The present invention overcomes a number of these problems with respect to the prior art structures.